Grocery-anchored

Grocery-anchoredInvestment salesNew JerseyNewsRetailers

Sterling Organization Acquires 94,550-Square-Foot Grocery-Anchored Retail Center in Sewell, New Jersey

by Alex Tostado

Sewell, N.J. — Sterling Organization, a Florida-based private equity firm, has acquired Mill Pond Village, a 94,550-square-foot, grocery-anchored retail center located in the Southern New Jersey community of Sewell. ShopRite is the anchor grocer at the center, which is located approximately 14 miles outside of Philadelphia. The seller was EDENS, a national retail development firm. Jim Galbally, Chris Munley and Colin Behr of JLL brokered the transaction. The property was 95 percent leased at the time of sale.

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Grocery-anchoredLeasingMassachusettsNewsRetailers

Aldi to Open 21,000-Square-Foot Grocery Store at Dartmouth Mall in Massachusetts

by Alex Tostado

Dartmouth, Mass. — German discount grocer Aldi will open a 21,000-square-foot store at Dartmouth Mall in southeastern Massachusetts in the fourth quarter. Aldi will backfill a space previously occupied by Sears and will join Burlington, Old Navy, H&M and Five Below as some of the largest tenants at the property. Pennsylvania Real Estate Investment Trust (PREIT) owns Dartmouth Mall.

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FloridaGeorgiaGrocery-anchoredInvestment salesNewsNorth CarolinaRetailers

Slate Grocery REIT to Acquire Five Grocery-Anchored Properties in Three States for $54.3 Million

by Alex Tostado

Toronto — Slate Grocery REIT has entered into an agreement to acquire five grocery-anchored shopping centers in North Carolina, Florida and Georgia for $54.3 million. The five assets comprise 396,471 square feet and were 95 percent leased at the time of sale. The three North Carolina properties are Bells Fork, a 71,666-square-foot center in Greenville anchored by Harris Teeter; Tanglewood Commons, a 78,520-square-foot property in Winston-Salem anchored by Harris Teeter; and Westin Center, a 66,890-square-foot, Food Lion-anchored asset in Fayetteville. The Florida property is Mission Hills, an 85,078-square-foot property in …

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ColoradoGrocery-anchoredInvestment salesNewsRetailers

Dunton Commercial Acquires Belmont Square Retail Center in Colorado for $6 Million

by Alex Tostado

Pueblo, Colo. — Greenwood Village, Colorado-based Dunton Commercial has purchased Belmont Square, a grocery-anchored shopping center located in Pueblo, approximately 44 miles south of Colorado Springs, Colorado. Belmont Square LLC sold the asset for $6 million. Situated on 11 acres at the corner of Bonforte Boulevard and Constitution Road, Belmont Square features 89,619 square feet of retail space. Built in the 1950s, the property underwent renovations in 2011. At the time of sale, the asset was 76 percent leased to tenants including Sav-A-Lot, AutoZone and Pizza Hut. Jon Hendrickson, Mitch …

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Grocery-anchoredIllinoisInvestment salesNewsRetailers

Dolan Associates Sells 115,380-Square-Foot Retail Center in Naperville, Illinois

by Alex Tostado

Naperville, Ill. — Dolan Associates Ltd. has sold Naperville Plaza, a 115,380-square-foot retail center in Naperville. Northpond Acquisitions LLC acquired the property for an undisclosed price. At the time of sale, the asset was leased to Casey’s Foods, Trader Joe’s, Oswald’s Pharmacy and Bridgestone/Firestone. Naperville Plaza is situated at 8-192 W. Gartner Road, 30 miles west of downtown Chicago. Bob Mahoney, Christian Williams, George Good, Richard Frolik, Michael Kaider, Derrick Almassy and Adam Foret of CBRE represented the seller in the transaction.

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CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Hanley Investment Group Negotiates $14.8 Million Sale of Cardenas Markets Grocery Store in Metro Los Angeles

by Alex Tostado

Whittier, Calif. — Hanley Investment Group has negotiated the $14.8 million sale of a new Cardenas Market in Whittier. The store opened in July 2020 and is situated at 11750 Whittier Blvd., 13 miles southeast of downtown Los Angeles. The Ontario, California-based grocer now operates 53 stores under the Cardenas Market banner and an additional seven stores under the Cardenas Ranch Market banner. An undisclosed private investor based in Los Angeles County acquired the 34,642-square-foot property at a 5.03 percent cap rate. Carlos Lopez and Lee Csenar of Hanley Investment …

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Grocery-anchoredInvestment salesNewsNorth CarolinaRetailers

Marcus & Millichap Arranges $23.5 Million Sale of Shopping Center in High Point, North Carolina

by Alex Tostado

High Point, N.C. — Marcus & Millichap has arranged the $23.5 million sale of High Point Harris Teeter Center, a 192,548-square-foot shopping center in High Point. The asset was fully leased at the time of sale to tenants including Harris Teeter, T.J. Maxx, Ross Dress for Less and Staples. The property was originally developed in 1975, and the undisclosed seller owned it for more than 20 years. Lori Schneider of Marcus & Millichap represented the seller in the transaction. Ben Yelm of Marcus & Millichap was the broker of record. …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

Crossman & Co. Brokers $15.4 Million Sale of Retail Center Near Orlando

by Alex Tostado

Orange City, Fla. — Crossman & Co. has brokered the $15.4 million sale of Orange City Marketplace, a 172,079-square-foot retail center in Orange City. The property was leased to Orange City Racing & Card Club, Planet Fitness and Dollar General as well as other national and local tenants at the time of sale. The asset is situated at 816 Saxon Blvd., 30 miles north of downtown Orlando. Brian Carolan of Crossman & Co. represented the sellers, Scott Crossman and Daryl Carter, in the transaction. The buyer was not disclosed.

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Grocery-anchoredInvestment salesNewsNorth CarolinaRetailers

Palomar Group Arranges $12.3 Million Sale of Grocery-Anchored Center in Walkertown, North Carolina

by Alex Tostado

Walkertown, N.C. — Palomar Group has arranged the $12.3 million sale of Walkertown Commons, an 81,432-sqaure-foot shopping center in Walkertown. Lowes Foods anchors the fully leased property, which was originally built in 2004. Walkertown Commons is located at 5180 Reidsville Road, eight miles northeast of downtown Winston-Salem. Ryan McArdle, Steve Collins, David Rivers, Jefferson Knox and Lee Malchow of Palomar Group represented the seller, an undisclosed regional investor, in the transaction. An undisclosed buyer based in South Carolina acquired the asset in a 1031 tax exchange.

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AlabamaGrocery-anchoredInvestment salesNewsRetailers

Benderson Development Acquires 60,000-Square-Foot Retail Center in Huntsville, Alabama

by Alex Tostado

Huntsville, Ala. — Benderson Development has acquired The Pinnacle at Providence Publix, a 60,000-square-foot, Publix-anchored retail center in Huntsville. The property features 14,000 square feet of new retail space that is available for lease. The asset is situated at 1660 Old Monrovia Road NW, seven miles west of downtown Huntsville. The seller and sales price were not disclosed.

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